NEW YORK – Google’s parent company, Alphabet Inc. (GOOG), closed a positive trading session on Wednesday, sending a signal of underlying strength to investors ahead of the long holiday weekend. The tech giant’s Class C shares finished the day at
0.79 (0.44%).
Wednesday’s trading activity painted a picture of resilience and bullish sentiment. After opening at $179.82, the stock saw an early dip to its session low of $178.19. However, buyers quickly stepped in, erasing the early losses and driving the price to a session high of $180.77 in the early afternoon. The stock managed to hold most of these gains, closing near the peak of its daily range.
This pattern, where a stock recovers from an early low to close near its high, is often interpreted by technical analysts as a sign that buyers were in control at the end of the day and that positive momentum is building.
Further supporting this view, after-hours trading remained largely stable, with the stock moving a negligible -0.010 to $180.54. This lack of significant downward pressure after the market close suggests that sentiment remained firm.
Outlook for Monday:
Based on the technical signals from Wednesday’s chart, the outlook for Alphabet’s stock on Monday appears bullishly inclined.
Several key indicators point toward a potential continuation of this upward trend:
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Strong Close: Finishing the day near the session high indicates sustained buying pressure into the closing bell.
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Intraday Reversal: The stock demonstrated strong demand by successfully reversing its initial morning losses.
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Positive Carryover: The gain on Wednesday builds upon the previous day’s close of $179.76, establishing a short-term upward trajectory.
While the market is closed Thursday for the Independence Day holiday, investors will be watching Friday’s session for confirmation. However, the foundation laid on Wednesday suggests that, barring any major negative macroeconomic news over the weekend, Alphabet is positioned to potentially test higher resistance levels when trading resumes in full on Monday. The immediate psychological level to watch will be the session’s high of $180.77.
